Katona receives only £70k in divorce

Brian McFadden and Kerry Katona's divorce was finalised yesterday, with Katona receiving only £70,000.

The 26-year-old seemed likely to receive in the region of £2million from the settlement - in which she was entitled to half of the former Westlife star's fortune - but McFadden's personal gambling has contributed to a much smaller haul.

A friend of the couple confirmed: "Brian and Kerry wanted to keep the divorce as easy as possible. They didn't want a big battle over money for the sake of the kids. So Brian agreed to hand over half of everything. Unfortunately for Kerry, Brian's earning power has sunk significantly since he left Westlife. His solo album didn't make him any money. The couple also had to take into account Brian already pays money for the upkeep of his daughters Molly and Lilly Sue every month."

And McFadden himself admitted his mistakes: "I made a lot of silly financial decisions as Westlife went along, losing a lot of money on buying houses I shouldn't have and buying cars when I didn't need to."